Spirituality and economics

ABSTRACTThis paper argues that mainstream economics is a materialist and reductionist science. It criticizes the core assumptions of mainstream economics – namely, the existence of ‘Homo Oeconomicus’ and the goals of profit maximization, economic efficiency, and economic growth; and shows that these goals lead to an economy that is not only unhealthy for people but is making the planet unsustainable. The paper makes a case for the development of a spiritually informed economics. It concludes that by helping to create ecological and human economic practices and policies, spiritually informed economics can support the flourishing of life on Earth (both human and non-human, present and future).